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Rockefeller founds Standard Oil
Rockefeller formed the standard oil company of Ohio, along with his brother. He was the president of the company. -
First oil well is drilled, Pennsylvania
George Biseel and Edwin L. Drake made the first sucessful use of a drilling rig. On a well drilled, ecxpecially to produce oil. This happened in a creek near Titusville. -
Transcontinental railroad is completed
Signaling the completion of the first transcontinention railroad in the U.S. -
Bell patents telephone
Alexander Grahm recieved a patent on this day. 3 days later him and his assosiate Thomas Watsin sucsessfully tested their invention. -
First telephone on White House
President Rutherford B. Hayes has the white houses first telephone installed in the mansions telegraph room. President embrace this new technology, though he rarely recieved calls. -
Edison perfects incandescent light bulb
His first attempt at his design results in a bulb that lasts about 13.5 hours before buring out. -
Railroads set up standard time zones
At exactly noon on this day, american and canadian railroads began using 4 continental time zones to end the confusion of dealing with thousands of local times. The move was the power shared by the railroad companies. -
First electric trolley line, Richmond, VA
With 10 street cars, electric power was supplied through overhead trolley wires(450 volts) or 27.5 horse power(5.6 kW) motors on each car. -
Sherman Antitrust Act is passed
This act was the first federal act that outlawed monopolistic business practices. This was the first measure passed by the U.S congress to prohibit trust. -
J.P. Morgan forms U.S. Steel
This was the largest business enterprise ever launched, with an authorized capitalization of 1.4 billion dollars. Chnaged economic conditions and new market opportunities through a period of time. -
Carnegie Steel Company is formed
A steel producing company created by Andrew Carnegie to manage business at his steel mills in Pittsburg
